— Artificial intelligence-driven network monitoring and advanced projection-mapping solutions have far-reaching global business potential —
DALLAS, TX and BRNO, Czech Republic – June 23, 2016 – Y Soft Ventures, the venture capital arm of leading enterprise office solution provider Y Soft, announced today that it has invested USD 1.3 million and USD 1 million in first round funding to GreyCortex and Lumitrix respectively, both Czech-based technology companies.
GreyCortex develops a network traffic analysis and forensics solution suite called Mendel which provides medium and large companies an intelligent system for threat identification and rapid response and detailed yet intuitive overview of network traffic. The Mendel solution suite is already used by customers such as the Mexican University UACM and the Czech National Security Authority.
The first round of investment from Y Soft Ventures will enable GreyCortex to strengthen its R&D and customer support teams and speed up the development of new product features and capabilities.
“Network traffic analysis is emerging technology with enormous business potential. Deploying artificial intelligence makes our approach truly unique as it offers customers a single solution for advanced network security and administration,” said Petr Chaloupka, CEO, GreyCortex.
Lumitrix develops and manufactures advanced software and hardware for its projection-mapping solution, Lumitrix T series outdoor projection system, which is used in the retail, municipalities, advertising or entertainment industries.
The first round of investment from Y Soft Ventures will enable Lumitrix to build global sales channels and accelerate future product development. New product directions in the enterprise office segment will also be explored as well as possible integration with various Internet of Things technologies for Smart City concepts.
“Today, projection-mapping is used mostly in entertainment. We believe, that with the right features, projection-mapping solutions can be used in many different business areas far beyond entertainment. Our ambition is to prove that on a global level. With investment, mentoring and business support from Y Soft Ventures, we can effectively leverage our know-how to reach that goal,” said Lukáš Brus, CEO, Lumitrix.
“Y Soft Ventures’ strategy is based on supporting startups that bring both innovative solutions for enterprise customers and the strong potential of becoming a globally successful business. GreyCortex and Lumitrix fit our venture funding strategy perfectly and they join in our vision of creating a community of technology businesses and investors within the CEE region,” said Miloš Sochor, Managing Partner, Y Soft Ventures.
More Information about GreyCortex and Lumitrix:
GreyCortex was formed in May 2016 by the product team that developed GreyCortex Mendel in TrustPort. GreyCortex has purchased the technology and rights from TrustPort, part of the Cleverlance Group.
Using artificial intelligence and machine learning principles, GreyCortex’s Mendel network analytics explores behavioral patterns within the entire network operation and uses them to identify anomalies signifying possible threats. It also provides complex data about the network and application performance.
Lumitrix T series outdoor projection system is designed primarily for outdoor usage and offers several industry unique features such as weather-proof IP43 certification, integration of an object scanner and the ability to connect online via GSM network. These features allow graphic designers to obtain surface data, prepare the content for projections and send it back to the projector remotely. Projection itself can be controlled remotely by using a simple and intuitive on-line application or a dedicated mobile application.
In addition to providing business resources and mentoring together with funding, Y Soft Ventures also differs from most European and in-house venture arms such as Google Ventures, Microsoft Ventures and Intel Capital, because Y Soft Ventures is open to external investors.
About Y Soft Ventures
Y Soft Ventures is the venture capital arm of Y Soft Corporation. Based on a “Genuinely Smart Money” approach, the group looks to invest in innovative startups whose promising products or services combine software and hardware to deliver solutions with far-reaching potential. In addition to funding, Y Soft Ventures is able to use its resources in manufacturing, global distribution, marketing and logistics to increase the speed of success. www.ysoftventures.com. Follow Y Soft Ventures on Twitter: @YSoftVentures.
